1,717,789 Shares in Coursera, Inc. $COUR Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Coursera, Inc. (NYSE:COUR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,717,789 shares of the company’s stock, valued at approximately $9,688,000. Connor Clark & Lunn Investment Management Ltd. owned about 1.01% of Coursera as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Deutsche Bank AG purchased a new stake in Coursera in the 2nd quarter valued at approximately $9,848,000. Great Lakes Advisors LLC acquired a new stake in shares of Coursera in the 2nd quarter valued at approximately $3,262,000. Invenomic Capital Management LP boosted its stake in shares of Coursera by 207.3% in the fourth quarter. Invenomic Capital Management LP now owns 906,224 shares of the company’s stock valued at $6,670,000 after buying an additional 611,325 shares in the last quarter. Quantinno Capital Management LP grew its holdings in Coursera by 731.5% during the first quarter. Quantinno Capital Management LP now owns 485,452 shares of the company’s stock worth $2,825,000 after acquiring an additional 427,068 shares during the period. Finally, Ieq Capital LLC purchased a new position in Coursera in the second quarter worth $2,892,000. 89.55% of the stock is owned by institutional investors and hedge funds.

Coursera Stock Performance

Coursera stock opened at $6.04 on Thursday. Coursera, Inc. has a fifty-two week low of $5.00 and a fifty-two week high of $12.32. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of -9.01, a price-to-earnings-growth ratio of 0.78 and a beta of 1.24. The stock’s fifty day moving average is $5.71 and its two-hundred day moving average is $5.78.

Coursera (NYSE:COUR) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.07. Coursera had a negative return on equity of 1.72% and a negative net margin of 15.39%.The business had revenue of $298.60 million during the quarter, compared to the consensus estimate of $293.61 million. During the same quarter in the previous year, the company posted $0.12 EPS. The business’s revenue was up 59.6% on a year-over-year basis. As a group, sell-side analysts forecast that Coursera, Inc. will post 0.16 EPS for the current fiscal year.

Coursera declared that its Board of Directors has authorized a share buyback program on Monday, May 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 55.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Coursera news, SVP Alan B. Cardenas sold 9,139 shares of Coursera stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $5.71, for a total transaction of $52,183.69. Following the completion of the transaction, the senior vice president owned 236,237 shares in the company, valued at approximately $1,348,913.27. The trade was a 3.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 16.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. BMO Capital Markets restated an “outperform” rating on shares of Coursera in a research report on Thursday, July 30th. Wall Street Zen raised shares of Coursera from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd. Bank of America lowered their target price on shares of Coursera from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $7.00 target price on shares of Coursera in a report on Wednesday, June 24th. Finally, The Goldman Sachs Group upgraded shares of Coursera from a “sell” rating to a “neutral” rating and lifted their price target for the company from $5.50 to $6.50 in a research report on Monday, August 3rd. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $8.55.

About Coursera

Coursera, Inc (NYSE:COUR) operates a leading online learning platform that delivers courses, specializations, professional certificates and fully accredited degree programs in collaboration with top universities and industry partners. Founded in 2012 by Stanford University professors Andrew Ng and Daphne Koller, Coursera’s mission is to provide universal access to world-class education and bridge skill gaps in a rapidly evolving job market.

The platform features more than 6,000 offerings created by over 275 academic institutions and corporate entities, spanning fields such as data science, business, technology, health care and the arts.